‘Positive feedback’ on mixed use plans
THE developers of a proposed mixed use scheme on a brownfield site in Bishop Auckland are heralding strong public support for their plans. Terrace Hill, based in Stockton, has been surveying local residents in Bishop Auckland and St Helens Auckland about its plans for the former Warner Electrics site. The proposed development will include a multiplex cinema, 10-pin bowling and bingo facilities, restaurants and a Sainsbury’s food store, as well as a new football stadium for Bishop Auckland Football Club, and new industrial development. Well over 200 local people attended a public exhibition in Bishop Auckland Library. A total of 219 visitors completed a survey form asking for feedback and Terrace Hill said it was pleased with the results where 95% of those questioned wanted to see the development of a new cinema, bowling alley and restaurants; 68% supported the development of a new bingo hall; and 87% supported the development of a new Sainsbury’s food store on the site. Duncan McEwan, director of Terrace Hill, said: “We have been overwhelmed by the positive feedback received so far.” |
Rents should continue to grow
According to recent research, the student accommodation sector continues to offer investors and developers an attractive investment opportunity, as Tim Evans reports. THE concentration of universities spanning the North East, five in total, two of which are red-brick well-established institutions, will always make the region appealing to student accommodation investors. With an average of 84,000 full- and part-time students residing in the region each year from the North East’s five universities and a further 19 other education colleges adding to demand, areas such as Newcastle’s Jesmond and Heaton have become known as student-let territory with both areas enjoying strong yields and undisturbed term-time lets. The international student market in the region is also prospering with our Nordic links via the North Sea and two burgeoning international airports. |
